Money Eliminates the Need for

question 65

Multiple Choice

Money eliminates the need for

• A)any government role in the economy.
• B)specialization.
• C)people to have a double coincidence of wants.
• D)the market system.

Distinguish between direct and indirect manufacturing costs.

Understand the concept and application of depreciation methods.

Identify and classify various intangible assets and their amortization.

Grasp the process of asset disposal and recognize gains or losses.

---

Definitions:

Garbage Recycled

The process of collecting, processing, and reusing materials that would otherwise be thrown away as trash.

Payment Plan

An arrangement between a seller and a buyer that allows the buyer to pay off a purchase over time in instalments.

Marginal Benefit

The extra pleasure or benefit derived from acquiring or making another unit of a product or service.

Marginal Social Cost

The total cost society bears for the production of an additional unit of a good or service, including both private costs and externalities.